The Texas Workplace Injury Compensation study explores the impact of workplace injury compensation of injured workers and businesses that subscribe to the workers’ compensation system. This study reviews all relevant major costs of managing workplace injuries, whether through the traditional workers’ compensation system or via third party lawsuits.
To view the report, click here.
Watch highlights from the April 28, 2008 TLR Press Conference about the positive impact of lawsuit reform in Texas.
Economic study shows reforms have brought billions of dollars to state, created a half million jobs.
For Immediate Release
April 28, 2008
Contact: Sherry Sylvester
(AUSTIN, TX) April 28, 2008 – A new report by nationally recognized economist Ray Perryman shows lawsuit reforms enacted in Texas beginning in 1995 have resulted in $112.5 billion in annual spending in Texas, 499,000 new, permanent jobs and a $2.6 billion increase in state tax revenue giving Texas a resounding competitive advantage in these challenging economic times.
“Lawsuit reform has led to improvements in the Texas business climate that have generated hundreds of thousands of jobs, said Perryman. “Approximately 8.5 percent of Texas economic growth over the past decade is the result of lawsuit reform.”
“Lawsuit reform has been good for Texas, bringing fairness and balance to our courts and boosting our economy, creating jobs, spurring business expansion and attracting thousands of new doctors to our state," said. TLR Chairman Richard Weekley.
A Texas Turnaround: The Impact of Lawsuit Reform on Business Activity in the Lone Star State, April 2008
Through a series of significant reform measures over the past several years, Texas has changed the civil justice environment from an economic hindrance to a source of competitive advantage and productivity. The result has been an important stimulus to business activity and a substantial decrease in the cost of the tort system from what it would be in the absence of reform.
In this study, The Perryman Group developed an extensive and comprehensive assessment process to measure the incremental gains from judicial reforms. The results clearly demonstrate the economic benefits of the more efficient and effective system. The effects of 2003 reforms limiting non-economic damages in medical malpractice litigation are also considered separately.
Lawsuit reform has led to improvements in the Texas business climate that have generated hundreds of thousands of jobs.
Texans for Lawsuit Reform Foundation is a nonprofit research organization that provides objective analysis and cutting edge solutions to the challenges presented by the Texas civil justice system. The Foundation’s publications reflect the comprehensive and in-depth legal research necessary to assure that Texas develops and maintains a civil justice system that serves every Texan.